- The export of dried cannabis flower from Colombia was authorized by a new decree, signed on July 23, 2021, at the Clever Leaves cultivation facilities by President Iván Duque and his ministers.
- Since the flower represents an estimated 50% of the world’s medical cannabis markets, this decree doubles the total target market for Clever Leaves’ Colombian operations.1.
- Clever Leaves’ Colombian operation is well positioned to take advantage of this change, given its 1.8 million square feet of cultivation, CUMCS GACP and Latin America’s only EUGMP certifications for dried flower production.
- Clever Leaves will now be able to offer its customers a broad portfolio of cannabinoid options with its extract, isolate and flower products from Colombia and its floral product from Portugal.
- As a trusted B2B partner, Clever Leaves can now leverage its global partnerships to deliver high-quality, innovative floral products for the benefit of patients around the world.
NEW YORK, July 24, 2021 (GLOBE NEWSWIRE) – Clever Leaves Holdings Inc. (Nasdaq: CLVR) (“Clever Leaves” or the “Company”), a multinational operator and licensed producer of pharmaceutical grade cannabinoids, welcomed the President from Colombia Iván Duque at his growing facilities in Colombia for the signing of a new decree that allows Colombian licensed cannabis companies, such as Clever Leaves, to participate in the commercial production and export of medicinal cannabis flower. Since the flower represents an estimated 50% of the world’s medical cannabis markets, this decree doubles the total target market for Colombian cannabis producers.
Clever Leaves is well positioned to seize this opportunity to export the dried flower of cannabis, taking advantage of its 1.8 million square foot growing facility, CUMCS GACP certified, its EUGMP Part II certification covering the production of the dried flower, and its more than 30 cannabinoid genetics registered in the country. Colombia’s environmental conditions, along with Clever Leaves’ expertise in sustainable cannabis cultivation, will allow the company to bring unique pharmaceutical-grade products to market. The Colombian flower complements Clever Leaves’ already strong Portuguese flower production, allowing the company to present a broad portfolio, spanning different strains and growing conditions, which will be tailored to the ever-evolving needs of patients.
Through shipments of cannabis products to more than 15 countries on five continents, Clever Leaves has a strong network of partners worldwide, who will benefit from its most extensive floral offering. Clever Leaves will leverage its position as a trusted B2B partner for the development and production of high-quality, innovative products for medical cannabis patients around the world.
This change in regulation, which allows the export of dried flowers, will catalyze the continued development of the Colombian medical cannabis sector by removing the restriction that blocked access to 50% of the global medical cannabis market. In addition, the decree includes features that will help Clever Leaves drive additional growth, including streamlined processes in quota management systems, which enable efficiencies and enhance Clever Leaves’ ability to serve customers more quickly. The bill also includes access to medical cannabis for patients in Colombia.
During the visit to the Clever Leaves facilities, President Duque, who was accompanied by several of his ministers, regional and local authorities, highlighted the expected impact of this in the country: “This new decree represents an important milestone for Colombia, since that allows us to compete in international markets. Furthermore, the decree raises the standards of our products and adds significant value, particularly in the medicinal sector. Clever Leaves serves as a benchmark for the Colombian cannabis sector, generating 17 jobs per hectare in its growing facilities. I encourage our government representatives from various entities to come together and further support the development of the sector. ”
Kyle Detwiler, CEO of Clever Leaves, said: “The change in Colombian government policy could double our target market from Colombia, a region where Clever Leaves made a substantial investment in capacity, and yet we were limited only to the sale of products processed or extracted up to this moment. However, since 2016, we have developed the necessary capabilities to produce a pharmaceutical grade product.
“This regulatory evolution will allow us to better serve our customers around the world, capitalizing on the only cannabis operation with European Good Manufacturing Practice (EU-GMP) certification in Latin America, which, to the great surprise of many people, already includes EU-GMP certified dried flower production. With hopeful anticipation of this moment, our team has spent the past few years developing business relationships, market insights, and sourcing partnerships around the world, and we hope that this catalyst will unleash the full potential of our gradually expanding clientele. Through our Portuguese dried flower production facilities, we successfully learned and explored the different challenges a floral operation faces, including quality requirements, GACP and EU-GMP certifications, sterility protocols, import / logistics logistics. export of psychoactive products and the potency requirements of cannabinoids, many of which are different from processed or extracted products. We hope these lessons and relationships allow Clever Leaves to capitalize on Colombia’s new cannabis regulations. ”
1 Market size estimates calculated from data reported in:
- Grandview Industry Analysis, Legal Marijuana Market Size, Share & Trends Analysis Report By Marijuana Type (Medical, Adult Use), By Product Type (Flower, Oil), By Medical Application (Chronic Pain, Mental Disorders), And Segment Forecasts, 2021 – 2028. Mayo de 2021
- BDS Analytics, Arcview Market Research, The State of Legal Cannabis Markets, 7.ª edition, 2020 update.
Acerca de Clever Leaves Holdings Inc.
Clever Leaves is a multinational cannabis company with an emphasis on the cultivation and processing of ecologically sustainable and pharmaceutical grade medical cannabis on a large scale, as the mainstays of its global cannabis business segment. With operations and investments in the United States, Canada, Colombia, Germany and Portugal, Clever Leaves developed an efficient distribution network and a global presence, based on rapid growth and capital efficiency. Clever Leaves aspires to be one of the world’s leading cannabis companies in the industry, renowned for its principles, people and performance, while fostering a healthier global community. Clever Leaves obtained multiple international certifications that allow it to increase its capacity to export and sell its operations in Colombia, including the European Union Good Manufacturing Practices Certification (EU-GMP), a Good Manufacturing Practices Certification (GMP) by the National Institute of Food and Drug Surveillance of Colombia – Invima, and the Certification of Good Agricultural and Collection Practices (GACP). Clever Leaves obtained a license in Portugal from Infarmed, the Portuguese health authority, which allows Clever Leaves to grow, import and export dried flowers for medicinal and research purposes. In addition, the Portuguese operation obtained certification of compliance with the GACP and IMC-GAP standards.
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